Travel giants to ringfence customer deposits to speed up refunds

The travel industry is in line for its biggest shake-up in almost half a century, as watchdogs prepare sweeping changes to reflect public anger over delayed refunds. In an echo of the rules imposed on banks in the wake of the financial crisis, travel operators will be forced to “ringfence” customer deposits, ensuring that holidaymakers are able to access immediate refunds if their travel plans are disrupted. The changes will be implemented over the next few weeks as companies apply t